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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2021
Jun. 30, 2020
ASSETS    
Cash and due from banks $ 1,949,811 $ 2,763,126
Federal funds sold 25,771,567 10,342,915
Cash and cash equivalents 27,721,378 13,106,041
Interest bearing deposits in banks 511,806 2,713,164
Available for sale securities - stated at fair value 22,564,568 20,297,595
Loans, less allowance for loan losses of $1,391,841 and $1,353,427 at March 31, 2021 and June 30, 2020, respectively 226,316,225 237,300,478
Loans held for sale 14,037,337 18,690,027
Other real estate owned, net 417,774 2,288,255
Premises and equipment, net 8,019,634 7,960,041
Federal Home Loan Bank stock 1,031,200 1,345,500
Accrued interest receivable and other assets 2,027,827 1,773,486
TOTAL ASSETS 302,647,749 305,474,587
Deposits    
Demand 97,876,447 93,627,648
Savings and NOW 84,955,507 75,397,948
Certificates of deposit 74,310,860 87,045,935
Total Deposits 257,142,814 256,071,531
Federal Home Loan Bank borrowings 4,000,000 9,000,000
Advance payments by borrowers for property taxes and insurance 2,239,782 2,882,067
Accrued interest payable and other liabilities 10,839,463 14,008,786
Total Liabilities 274,222,059 281,962,384
STOCKHOLDERS’ EQUITY    
Preferred stock ($0.01 par value, 5,000,000 authorized, no shares issued or outstanding as of March 31, 2021 and June 30, 2020, respectively)
Common stock ($0.01 par value, 20,000,000 authorized, 2,624,343 issued and outstanding as of March 31, 2021 and June 30, 2020) 26,243 26,243
Additional paid in capital 11,319,328 11,319,328
Retained earnings 22,557,598 17,002,468
Accumulated other comprehensive loss (5,477,479) (4,835,836)
Total Stockholders’ Equity 28,425,690 23,512,203
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 302,647,749 $ 305,474,587